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Well?! Damn! Recession blows!! I dont think they ever anticipated such a major impact of the subprime mortgages on the whole economy. I mean there were people smart enough to notice that something is not right. Some people made good money betting against that. Why didn't the Fed intervene before it happend or some other checks and balances commision like SEC raise the flag earlier?

I mean lets think about it from the lender perspective..What were they thinking?  That they are making so much money? I mean WOOT we can provide those stinky mortgages like there is no tomorrow?

The maintanance guy on my block was telling me that he bought a house with 9.25% rate! How sick is that? There is absolutely no way people can afford this unless ofcorse they start robbing banks. Hmm yes - very possible I must tell, I am sure the crime rate is going to shoot through the roof in this kind of screwed economy.

Another thing worth mentioning! Bear sterns you know what!!??? Screw you!!! When those boys looking to hire someone its always from the top school. I mean personally I can't find a freaking summer internship now just because you guys say: "No sorry, we are looking some one from Harvard" Oh yeah?! great! We all saw how professional those "smart" children of the Northeast moneybags are making "good" bets for you, producing negative returns.  And thats what hurts the most. Being a top 1% of my business school student with GPA 3.94 I can not even find something remotely close to investment position just because they are looking for good damn Harvard Grads! Not just Bubble Stearns, All those finance firms they are all snobs like that.

And Bernanke!! Thanks for that Rate cut!! That worked for quite a a day???  Why don't we just cut it to 0% and be done with it? Can you not see it is not working??? Funny thing is he knows its not gonna work - all his economic publications say thats not the right way to handle the stagflation but yet there he is, our hero on the white horse just spearing those target rates every monday!

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